# In the matter of Cns Fashion Retail Private Limited

> NCLT judgment dated 2026-04-20. Citation: TCN-2026-NCLT-00486. The present application (IA-3/ND/2025) was filed by the Liquidator of M/s. CNS Fashion Retail…

- **Court:** NCLT
- **Order date:** 20 Apr 2026
- **Citation:** TCN-2026-NCLT-00486
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/cns-fashion-retail-private-limited-92b33ddd

## Summary

### Background

The present application (IA-3/ND/2025) was filed by the Liquidator of M/s. CNS Fashion Retail Private Limited (Corporate Debtor) under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 14 of the IBBI (Liquidation Process) Regulations, 2016. The Liquidator sought early dissolution of the Corporate Debtor due to the absence of any realizable assets and to clarify who would bear the costs of the Corporate Insolvency Resolution Process (CIRP) and liquidation.

## Facts

The Liquidator of M/s. CNS Fashion Retail Private Limited filed an application (IA-3/ND/2025) for early dissolution of the Corporate Debtor under Section 54 of IBC, 2016 and Regulation 14 of IBBI (Liquidation Process) Regulations, 2016.

The application sought an order of dissolution for CNS Fashion Retail Private Limited (CIN No. U18104DL2016PTC309024) and clarification on who would bear the costs of CIRP and liquidation.

The 2nd meeting of the Stakeholders' Consultation Committee (SCC) held on 04.07.2024, resolved with 100% assent that the Liquidator should file for early dissolution due to no available assets.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. CNS Fashion Retail Private Limited, should be dissolved under …

**Ratio:** A Corporate Debtor whose assets have been completely liquidated and has no realizable

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**Reasoning:** The SCC unanimously approved the early dissolution application. The Liquidator's Form H

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**Interpretation:** Section 54(1) of the IBC mandates the liquidator to apply for dissolution once

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**Application:** Given that M/s. CNS Fashion Retail Private Limited had no assets for

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. ATUL CHATURVED…
- **Appellants:** Concept…; Liquidator of…
- **Respondents:** M/s. CNS Fashion…; Cns Fashions…
- **Other parties:** Stakeholders…; Directors of M/s.…; +6 more
- **Advocates:** Adv Rishi…; Adv Gurjot…; +1 more

## Timeline

- **2026-04-20 — Order Del…**: The Adjudicating Authority delivered the order for the dissolution of the Corporate…
- **2025-01-15 — Previous Order…**: An order was passed clarifying that creditors are liable to bear liquidation costs if no…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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